Teachers Advisors LLC increased its holdings in shares of Preferred Apartment (NYSE:APTS) by 14.5% during the 4th quarter, HoldingsChannel reports. The fund owned 702,050 shares of the real estate investment trust’s stock after acquiring an additional 88,996 shares during the period. Teachers Advisors LLC’s holdings in Preferred Apartment were worth $14,217,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of APTS. Envestnet Asset Management Inc. acquired a new stake in shares of Preferred Apartment during the 3rd quarter valued at about $118,000. QS Investors LLC acquired a new stake in shares of Preferred Apartment during the 4th quarter valued at about $148,000. Stifel Financial Corp acquired a new stake in shares of Preferred Apartment during the 3rd quarter valued at about $202,000. Intrust Bank NA acquired a new stake in shares of Preferred Apartment during the 4th quarter valued at about $206,000. Finally, Schroder Investment Management Group boosted its position in shares of Preferred Apartment by 59.4% during the 3rd quarter. Schroder Investment Management Group now owns 11,317 shares of the real estate investment trust’s stock valued at $213,000 after acquiring an additional 4,217 shares in the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.
APTS has been the topic of several recent research reports. ValuEngine upgraded shares of Preferred Apartment from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered shares of Preferred Apartment from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. SunTrust Banks initiated coverage on shares of Preferred Apartment in a research report on Thursday, January 11th. They set a “hold” rating and a $20.00 target price on the stock. DA Davidson set a $18.00 target price on shares of Preferred Apartment and gave the company a “buy” rating in a research report on Thursday, March 1st. Finally, B. Riley set a $16.00 price target on shares of Preferred Apartment and gave the company a “hold” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $19.86.
Preferred Apartment (NYSE:APTS) last released its quarterly earnings results on Monday, February 26th. The real estate investment trust reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $1.00. The firm had revenue of $81.65 million for the quarter, compared to analyst estimates of $83.27 million. Preferred Apartment had a net margin of 9.41% and a return on equity of 2.46%. The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. research analysts predict that Preferred Apartment will post 1.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 7.05%. Preferred Apartment’s dividend payout ratio (DPR) is presently 68.03%.
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Preferred Apartment Company Profile
Preferred Apartment Communities, Inc (NYSE: APTS), or the Company, is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties.
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